Americas held the largest market share in the Night Vision Devices Market Americas
region holds the largest market share and growth in the Night Vision
Devices Market, and is anticipated to reach $4.9 billion by 2023 at a
CAGR of 12.4%. However, APAC witnesses highest growth during the
forecast period and is expected to reach $3.5 billion by 2023 at a CAGR
of 14.7%. The use of Night Vision Devices has seen an upsurge in this
region due to the increased focus on public security and surveillance.
The demand scenario for these devices is going to remain positive in
this region as the government institutions continue to focus on national
security. The key applications in this region include Military,
Hidden-Object Detection, and Navigation among wireline completion,
Recovery, and others.

Selected Value Chain Analysis done in the full report
The
product life cycle analysis for night vision devices consists of four
significant stages, namely manufacturing, certification & testing,
distribution, end-user and recycling. The night vision devices pass
through each stage during its life-cycle.
In its first stage, the
desired night vision device will be created and is simulated in the
R&D of either a manufacturer or academic universities/ research
institutes, through the fabrication of a prototype. The prototype is
subjected to several developing and testing phases before the
specifications for commercial product are finalized. On successful
completion of the product in the R&D stage, specifications for the
final product are dispatched to the manufacturing units. In this stage,
basic hardware architecture for night vision device is framed in which
the electronic components will be further assembled. The Night Vision
Devices before being delegated to certification authorities are
extensively tested to reject the defective pieces. The certification
authorities perform several qualifying tests as per the standard
regulations, post which, they are sent to distributors for supplying the
devices to the end-users globally, through a comprehensive network of
distribution networks. The life cycle of the devices is highly dependent
on the end- users’ behavior and the frequency with which these devices
are launched. Once the devices are utilized by end-users, they are
directed towards disposing phases where the device is thoroughly
inspected to recover any valuable component and material.

The Night Vision Device Market is currently in the growth stage and is slowly shifting towards the mature stage.

The
growth for Night Vision Devices is seen due to increased adoption in
the commercial market, especially in the security and surveillance
segments.

Also, the enhanced security measures by government
for domestic security and increasing adaptation of modern military
equipment by armies across the world to stop terrorism and mitigate
intruding efforts of the insurgents.

Night Vision Goggles are forecast to remain the leading market through 2020 to reach $9.3 billion at a CAGR of 6.3%.

The
Night Vision Camera Market is projected to exhibit the highest revenue
growth from $5.7 billion in 2014 to reach $9 billion through 2020.

Night
vision scope market is estimated to display the highest growth rate of
11% CAGR through 2020 to reach $1.6 billion. The reduction in price will
result in significant adoption in the military and hunting markets.

As
UAVs (Unmanned Aerial Vehicles) continue to displace the humans on
battlefields, the demand for NVDs will witness a constricted growth.

The large focus on price reduction, or offering improved capabilities at a similar price has resulted in a growing market.

Adoption
rates for night vision devices are growing, especially in the
commercial market, due to growth of the security and surveillance
markets.

Night Vision Cameras will have highest demand in
regions like Americas and APAC, due to increased use of night vision
devices in applications such as military and security in these regions.

Phosphor
screens, being one of the major components of night vision devices,
will be the second largest growing components with respect to market
revenue by 2020 with a CAGR of 11.0%.

The global night vision
device market for hidden object detection is projected to grow to $7.9
billion by 2020 at a CAGR of 8.4%. The growing night vision device
market in the APAC region is set to propel this segment.

The
decline in price as well as growing applications for hidden object
detection night devices are set to play a major part in the growth of
the market.

The market for night vision devices in Europe is forecast to grow at a CAGR of 6% and reach $3,484 million by 2020.

The market for RoW geographical segment is forecast to grow at a CAGR of 3.1% and reach $820 million by 2020.

The
fastest growing market for night vision devices in the Americas region
is Mexico. The market volume for Mexico is forecast to grow at a CAGR of
14.9% and reach 370 thousand units by 2020.

Key players of Night Vision Devices Market:

The
top five companies in the Night Vision device market include FLIR
Systems, Inc. (U.S), American Technologies Network Corp. (U.S), L-3
Warriors System, Inc. (U.S), Exelis Inc. (U.S) and Raytheon Corporation
(U.S). Though these companies have a dominant position in the market,
there are a few companies such as SAT Infrared Technology (China),
Finmeccanica (Italy) and Northrop Grumman (U.S) providing stiff
competition to the top players with their innovative product designs and
focusing on growing markets.

FLIR has a wide range of products
including night vision cameras, scopes and goggles for security,
surveillance, transport and military applications. FLIR’s Scout series
of Thermal night vision cameras is a prevailing product in the market.

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